How can I, as an entrepreneur, benefit from tax incentive programs?
June 29, 2022 | 50,00 EUR | answered by Lilli Reuter
Dear Sir or Madam,
I am Hilde Schlüter, the owner of a small business in the craft sector, and I have a question regarding tax incentive programs. Over the past few years, I have heard about various funding opportunities for businesses, but I am unsure of how I can benefit from them as an entrepreneur.
My company generates an annual revenue of approximately 100,000 euros and I employ a total of five staff members. So far, I have mainly focused on the basic tax regulations and have tried to submit my tax returns as efficiently and accurately as possible. However, I feel like I have not fully tapped into potential tax savings or incentives so far.
Given the current economic situation and the challenges my business is facing, I am looking for ways in which I can receive tax support. Are there specific funding programs or tax incentives that my company could benefit from? How can I ensure that I take advantage of all the benefits available to me as an entrepreneur?
I would like to learn more about how I can strategically benefit from tax incentive programs as an entrepreneur and what steps I need to take to utilize these opportunities. I would greatly appreciate a detailed consultation and support on this matter.
Thank you in advance for your help and support.
Sincerely,
Hilde Schlüter
Dear Ms. Schlüter,
Thank you for your inquiry regarding tax incentive programs for your company in the field of craftsmanship. It is understandable that as a business owner, you are looking for ways to be tax-supported, especially in times of economic challenges.
First of all, it is commendable that you have already extensively dealt with the tax basics and submit your tax returns efficiently and correctly. This is an important foundation to be able to take advantage of potential tax savings or incentives.
There are indeed various incentive programs and tax incentives that your company could benefit from. One of the most well-known incentive programs in Germany, for example, is the so-called "Investment Deduction". As a business owner, you can claim certain investments for tax purposes and thereby reduce your tax burden. The requirement is that you actually make the investment and can prove it accordingly.
Another incentive program that could be relevant for your company is the promotion of further training measures for your employees. There are various government programs that allow you to deduct the costs of training and further education for tax purposes. This way, you can not only improve the qualifications of your employees but also achieve tax benefits for your company.
To ensure that you take advantage of all the benefits available to you as a business owner, I recommend that you consult with an expert in tax law. An experienced tax advisor or lawyer can help you identify the incentive programs relevant to your company and support you in the application and implementation of these programs.
For targeted advice and support on this matter, I am at your disposal as a tax lawyer. We can schedule a meeting for a detailed consultation to discuss your individual situation and find the best solutions for your company together.
I hope that I could assist you with this information and I am available for further questions.
Best regards,
Lilli Reuter
